Cannons

Mortgage - How much can we borrow?

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    Hi,

     

    Can anyone tell us how banks/lenders calculate how much you can borrow for a mortgage? Is it the same as UK in that its so many times your annual salary if so how many times?

     

    Thanks

     

    Jo and Derek

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    If you go on realestate.com.au there are a couple of morgage calculators on there. I dont know how accurate they are or if things like large deposits change the borrowing amount. Would be good to get a couple of examples from people over there who have gone through the process.

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    Guest Django

    Send Andrew Williams a pm. He will be more than willing to fill you in and will also find you a good deal t' boot.

     

    Pete

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